Amidst the dust of gunpowder, what is the condition of the prices of petrol, diesel and LPG, should gold and silver be bought now or not?

US-Iran-Israel War Impact: middle east The effect of increasing tension in the US and the Iran-Israel conflict is now visible on the global energy market, gold and silver prices. Due to the rise in oil prices, the possibility of fuel becoming expensive in the coming time has increased. Besides, fluctuations are also being seen in the prices of precious metals like gold and silver.

Along with the prices of oil, gold and silver, the discussion has also intensified regarding India’s energy security, because India imports a large part of its needs. However, the government says that at present the country has sufficient energy reserves.

What are the prices of gold and silver in Delhi?

Today the price of silver in Delhi was recorded at Rs 284.90 per gram and Rs 2,84,900 per kilogram. Talking about the price of gold, 24 carat gold is trading at Rs 16,465 per gram, 22 carat gold at Rs 15,094 per gram and 18 carat gold at Rs 12,352 per gram.

Have the prices of gold and silver fallen?

Today there has been a huge fall in the price of gold. In the bullion market, the price of 24 carat gold has become Rs 1,59,390 per 10 grams. Today it has become cheaper by Rs 5300.

What is the effect of dollar and bond yields?

Meanwhile, the US dollar index has increased to around 99, which is the highest level in more than a month. Whereas the yield of America’s 10-year treasury bond remains between 4.09 to 4.11 percent. Generally, due to increase in dollar and bond yields, there is pressure on precious metals like gold and silver, because no interest is paid on them.

What do experts say?

According to ET, Rajeev Sharan, Head of Criteria, Model Development and Research at Brickwork Ratings, says that as long as tensions between Iran and Israel remain, the prices of precious metals may continue to remain supported.

Is it right to buy gold and silver?

Investors are being advised to act wisely while transacting in gold and silver. Looking at the current situation, the prices of these two precious metals may remain strong for the time being. Investors who want to take advantage of the current high prices can do partial profit booking, while those who want to make new purchases, it would be better to invest gradually during the coming fall in prices.

Why increased concern over oil prices?

Iran has warned ships from passing through the Strait of Hormuz, an important sea route in the south. Yesterday Iran claimed that it has completely captured this place. This is a very important sea route of the world, from where about 20 percent of global oil and gas is supplied.

If there is a long-term blockage on this route and oil prices remain high, it may affect the prices of many commodities. However, it is not yet clear whether this conflict will have a long-term impact on oil, gas and energy prices or not.

What is the condition of petrol, diesel and gas in India?

The price of domestic LPG cylinder (14.2 kg) in New Delhi is Rs 853. There has been no change in this for the last 12 months. Today the price of diesel in Delhi is Rs 87.67 per liter and there has been no change in it since last one year. Whereas the price of petrol remains at Rs 94.77 per liter and this rate has also remained stable for the last 12 months.

Union Petroleum Minister Hardeep Singh Puri says that India has sufficient energy reserves and the government is constantly monitoring the global energy market, so that the supply in the country is not disrupted.

How dependent is India on the Middle East?

India imports about 90 percent of its crude oil needs. Of this, about 45 to 50 percent oil comes from the Middle East. Therefore, any kind of disruption in the Gulf region can have an impact on India.

How much oil reserves does India have?

According to government sources, India currently has reserves of crude oil and petroleum products for about 8 weeks. This includes about 25 days of crude oil and about 25 days of petrol-diesel stock. India has strategic petroleum reserves as well as commercial reserves with refineries and oil companies. These are used in case of temporary supply interruption.

Impact of supply stoppage from Hormuz on India?

If the supply of oil from the Strait of Hormuz stops completely for some time, then the biggest challenge for India could be related to logistics and prices. India imports about 2.6 million barrels of oil through this route every day, which is about half of the total imports.

What options does India have?

India has been diversifying its sources of oil imports for the last few years. After the Russia-Ukraine war, India had increased oil purchases from Russia. Apart from this, India is also buying oil from countries like America, Canada, West Africa and Latin America. According to experts, India has the option to import oil from more than 40 countries and if needed, the supply can be increased from these sources.

What will be the impact on prices if supply stops?

Apart from this, India can also obtain oil through Saudi Arabia’s East-West Pipeline and Abu Dhabi Crude Oil Pipeline, through which the Strait of Hormuz can be bypassed. Experts say that if the supply of oil from the Middle East stops for some time, it will immediately affect prices and logistics. However, if there is a prolonged interruption, the risk related to supply may increase.